In continuation with our Social Media Branding talk yesterday, we're talking about where to start your branding process. Do you define your target audience first and brand for them or do you make your brand something that you (and your company) aspire to? What are your opinions?
i think u should have to do both at the same time and way...you and your companys way of thinking is nice.
ReplyDeleteKeanu: The challenge is trying the reach a balance. Let's say you start by discussing the end game. You want to build a company making widgets and you want to be able to sell it to another company at 10 times the investment. Would the next step be selecting your target audience (e.g., will you become the Walmart or Tiffany's in your market?) or do you define your brand first? The reason I ask is that you want to position the company for your exit strategy, which has to show significant potential in market growth and share. This enables you to understand how the brand has to be built to capture not only target audience but facilitate the impression of universal potential within the market to meet the exit strategy.
ReplyDeleteAnother example is an exit strategy where a company intends to become the largest provider of widgets worldwide in ten years. Their brand strategy would have to provide the impression that it is already there. The brand should be planned so that it easily facilitates multiple divisions as if they were already part of a bigger organization. Target audience, in this case, is a marginal aspect that can be dealt with as milestones along that path...
Does this make sense to you?
yah...it does make sense...u saying that you have to reach the balance..well,i don't understand about the business game and widgets yet,as i'm just a teenager...but i asked about those things to my uncle he says..Building a brand is about developing a company’s, product’s or service’s meaning to customers, be they consumers or other businesses.
ReplyDeleteAnd when we say “means” , we mean “Means” with a capital M. Not just that you sell a widget and the widget has a function, but that the way your widget is marketed, supported, trusted, preferred, etc. has actual meaning to a customer. That the customer actually cares on an often unconscious and emotional level that the widget is your company’s widget, and not someone else’s.